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Dec 28, 2012
12/12
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in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday. it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began, several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican m
in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday....
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it is time to redouse washington's out of control spending. >> president obama called the vote the right thing to do for the country. republicans compromised on the tax rates and democrats gave in on the state taxes. - estate taxings. >> there is another crisis looming on the horizon. lawmakers have to worry about the debt ceiling. the u.s. roached the legal borrowing limit yesterday . the treasury department is taking measures to buy time until the end of february including suspending investments and benefit fund saids for federal workers or they will not pay the country's billos time. congress must vote now to raise the debt ceiling and setting the stage for yet another battle on capitol hill. a new year brings new numbers on the paycheck of thousands san francisco workers. a higher minimum wage comes in . carolyn tyler has the details. >> the street prides itself on the salaries paid to workers in the back of the house. cooks and dish washers and a record high minimum wage rose in from 8.50 in 2004 to 10.24 an hour and jumps to 10.55. >> will it keep you from hiring. >> yes, we'll hav
it is time to redouse washington's out of control spending. >> president obama called the vote the right thing to do for the country. republicans compromised on the tax rates and democrats gave in on the state taxes. - estate taxings. >> there is another crisis looming on the horizon. lawmakers have to worry about the debt ceiling. the u.s. roached the legal borrowing limit yesterday . the treasury department is taking measures to buy time until the end of february including...
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Jan 1, 2013
01/13
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KPIX
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tougher. >> the fact that we're not where we need to on this is disgusting. >> reporter: president obama said he want taxes and spending cuts at the same time. >> but with this congress that was a little too much to hope for at this time. >> reporter: house speaker john boehner has not publicly endorsed the deal. tara mergener for cbs news, washington. >> now, the house is set to reconvene today at 9 a.m. pacific time. a house vote is expected today or tomorrow. >>> what a night. no fog this year, perfectly clear last night for fireworks along the waterfront here in san francisco. it's beautiful out there. a lot of people showed up for the 15-minute display and jammed the streets near the bob barker. when it was all over, i think most of them are still out there, it was crowded getting into work today but there was some violence during the new year's celebration here in the city. cbs 5 reporter cate caugiran is in san francisco with the problems police had with the new year's crowd and has the latest. >> reporter: good morning. happy new year. san francisco police had their hands full be
tougher. >> the fact that we're not where we need to on this is disgusting. >> reporter: president obama said he want taxes and spending cuts at the same time. >> but with this congress that was a little too much to hope for at this time. >> reporter: house speaker john boehner has not publicly endorsed the deal. tara mergener for cbs news, washington. >> now, the house is set to reconvene today at 9 a.m. pacific time. a house vote is expected today or tomorrow....
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Dec 28, 2012
12/12
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with just five days until the country tumbles into automatic tax hikes and spending cuts the president has scheduled a meeting. danielle nottingham on the efforts. >> reporter: top congressional leaders are expected to meet with president obama at the white house friday. this would be the group's first face to face meeting since november 16th and a last minute chance to avoid the so-called fiscal cliff. if no deal is reached taxes will go up for nearly every american and harsh spending cuts will kick in on january 1st. senators reconvened on thursday with tension spilling over on to the floor. >> speaker boehner is unwilling to negotiate. there's nothing happening. >> the phone never rang and so now here we are five days from the new year and we might finally start talking. >> reporter: senate majority lyddite harry reid skewered house speaker john boehner, charging he's more interested in his leadership position than in bipartisan legislation. >> the speaker's number one goal is to get elected speaker on january 3rd. >> reporter: the two sides are at odds over tax cuts and spending. r
with just five days until the country tumbles into automatic tax hikes and spending cuts the president has scheduled a meeting. danielle nottingham on the efforts. >> reporter: top congressional leaders are expected to meet with president obama at the white house friday. this would be the group's first face to face meeting since november 16th and a last minute chance to avoid the so-called fiscal cliff. if no deal is reached taxes will go up for nearly every american and harsh spending...
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Dec 31, 2012
12/12
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nothing about the addiction that his administration, he is the spender in chief. >> reporter: president obama says he is willing to do that. >> i offered over a trillion dollars in additional spending cuts so we would have $2 cuts for every $1 of increased revenue. >> senate is in recess. >> reporter: the senate reconvenes at 11 a.m. so as americans celebrate the beginning of 2013 they may wake up wishing it was 2012 when they had more money in their pockets. andrew spencer reporting. >> the midnight deadline is 9:00 our time. if the deadline passes there could still be wiggle room if the president and lawmakers appear to be working towards an agreement. the tax hikes and spending cuts could be held at bay for a few weeks, they could be repealed retroactively once a deal is reached. and you can keep tabs on the fiscal talks anytime by logging on to our website, cbssf.com. >>> there is some hope. congressional leaders showed yesterday they are able to compromise at least on a few things. top republicans and democrats announced they reached a deal to extend the 2008 farm bill for at least one m
nothing about the addiction that his administration, he is the spender in chief. >> reporter: president obama says he is willing to do that. >> i offered over a trillion dollars in additional spending cuts so we would have $2 cuts for every $1 of increased revenue. >> senate is in recess. >> reporter: the senate reconvenes at 11 a.m. so as americans celebrate the beginning of 2013 they may wake up wishing it was 2012 when they had more money in their pockets. andrew...
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Dec 26, 2012
12/12
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the country is a week away from tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid. >>> it's a scary statistic for recent college graduates. the number of young californians with degrees working in restaurants or retail has nearly doubled over the last five years. grace lee tells us these are the same people who have expensive college loans to pay off. >> reporter: when you're shopping this holiday season or eating out, take a look around. you might notice a lot more people under 30 working those jobs. according to the census bureau there are about 260,000 young adults with college degrees in california taking work in food service and retail because they can't get anything else. >> pretty sad now. >> reporter: roary graduated with a computer science degree. >> i graduated with my bachelors in 2009 and my first job was at a retail store. at first it was kind of embarrassing. >> i couldn't get a job in the field i wanted to. i figured i have to go to law school to get where i wanted to be
the country is a week away from tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid. >>> it's a scary statistic for recent college graduates. the number of young californians with degrees working in restaurants or retail has nearly doubled over the last five years. grace lee tells us these are the same people who have expensive college loans to pay off. >> reporter: when you're...
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Dec 27, 2012
12/12
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KRON
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president obama has cut his vacation short and is returning to the white house now. without a budget agreement automatic tax increases for everyone and deep spending cuts will be triggered and the new year. the main dispute continues to be over taxes. americans filing unemployment last week as dropped to 350,000. futures are up right now. a letter from treasury secretary tam geithner to congress sent after the bell yesterday may also weigh on the markets. >> the woman accused of killing a grandmother and a drunk driving accident at the twin peaks without has made her first court appearance. 23 year old gina eunice is accused of a hit and run drunken-driving in vehicular manslaughter. the accident occurred three people and killed 56 year old yuee byao who was here visiting her new grandchild from china. the judge set the bail at $2 million. if she posted she must wear a scram device that checks to make sure she is not drink alcohol and is not allowed to drive. she will be back in court for arraignment on december 31st. we will be right back. >> the layout has settled
president obama has cut his vacation short and is returning to the white house now. without a budget agreement automatic tax increases for everyone and deep spending cuts will be triggered and the new year. the main dispute continues to be over taxes. americans filing unemployment last week as dropped to 350,000. futures are up right now. a letter from treasury secretary tam geithner to congress sent after the bell yesterday may also weigh on the markets. >> the woman accused of killing a...
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Dec 28, 2012
12/12
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and spending cuts from kicking in. they only have four days to reach an agreement or the u.s. economy will go over the so- called fiscal cliff. that's when automatic tax increases and spending cuts would take effect. reaching a deal before then what be easy. right now both sides are involved in a high-stakes political blame game. >> we in washington are working while the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president i would be happy to look at whatever he proposes but the truth is we're coming against a hard deadline here. i said this is a conversation we should have had months ago. >> former president george h. w. bush is still in intensive care at a hospital in houston with a stubborn fever. the family is, that he will be out of the i see you sound. the chief of staff said supporters a note yesterday including " he would ask me to tell you please put the sharks back in the closet " the 88 ye
and spending cuts from kicking in. they only have four days to reach an agreement or the u.s. economy will go over the so- called fiscal cliff. that's when automatic tax increases and spending cuts would take effect. reaching a deal before then what be easy. right now both sides are involved in a high-stakes political blame game. >> we in washington are working while the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds...
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Jan 1, 2013
01/13
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KPIX
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president obama said he would have preferred a grand bargain that solved all of washington's revenue and spending problems. >> with this congress, that was obviously too many to hope for at this time. [ laughter ] >> maybe we can do it in stages. >> reporter: negotiations have been going on all day. lawmakers and aides are moving back and forth between meeting rooms on capitol hill on what is normally a quiet new year's eve. the sticking point is spending. the president said to take action on deficit reduction in the next few months and more tax revenue could be involved in those discussions but republicans are furious at that possibility. >> i'm willing to support revenues to deal with this overall problem but what i will not agree to using revenues to replace spending reductions. >> reporter: even in the senate approves the deal by midnight, the house has to pass it. >>> once the deal is done, what will it mean to you and your family's finances? cbs 5 reporter grace lee with the consequences of a compromise. >> reporter: this deal is not official until both houses pass it and it's
president obama said he would have preferred a grand bargain that solved all of washington's revenue and spending problems. >> with this congress, that was obviously too many to hope for at this time. [ laughter ] >> maybe we can do it in stages. >> reporter: negotiations have been going on all day. lawmakers and aides are moving back and forth between meeting rooms on capitol hill on what is normally a quiet new year's eve. the sticking point is spending. the president said...
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Dec 31, 2012
12/12
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KRON
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over what's being called the fiscal cliff - lawmakers are locked in a fierce face-off over a set of spending cuts and tax hikes. >>> "we're apart on some pretty big issues." "i'm willing to get this done, but i need a dance partner." >> reporter: on n-b-c's meet the press, president obama made a final pitch for his plan to preserve bush era tax cuts for everyone but the wealthiest americans. >>> "regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up that would hurt our economy badly." >> reporter: a major sticking point continues to be the annual income level at which those tax increases should kick in. the threshold has wavered from 250-thousand dollars to as high as one-million dollars. republicans argue the country doesn't have a tax revenue problem, it has a spending problem. "unless we do something about spending, the government will continue to get bigger and the deficit will continue to get bigger." >> reporter: following the president's interview, speaker of the house john boehner issued a statement saying in part
over what's being called the fiscal cliff - lawmakers are locked in a fierce face-off over a set of spending cuts and tax hikes. >>> "we're apart on some pretty big issues." "i'm willing to get this done, but i need a dance partner." >> reporter: on n-b-c's meet the press, president obama made a final pitch for his plan to preserve bush era tax cuts for everyone but the wealthiest americans. >>> "regardless of partisan differences, our top...
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Dec 28, 2012
12/12
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KRON
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. >> president obama in congress are looking to keep automatic spending freezes from kicking in a pain has the stor\ed paine has the story >> nancy pelosi, which mcconnell, and john boe hner have four days to reach agreement or spending cuts would take effect. >> both sides are involved in a high-stakes political blame game. >> we are here in washington working. the members of house of represented or out watching movies, and watching the kids play soccer, basketball, and doing all kinds of things. they should be here. >> i told president i will be happy to look at what ever he proposes. a hard deadline. as i said this is the conversation we should of had to go. >> democrats want to extend the bush era tax cuts to everyone except those americans making $250,000 or more per year. republicans remain against any tax increases. >> most americans just wasn't begun. >> people are tired. >> islamic not reach a deal by january 1st many economists are concerned it could lead to another recession. >> ibm ed paine reporting. >> and other nationals former president george h. w. bush is still in int
. >> president obama in congress are looking to keep automatic spending freezes from kicking in a pain has the stor\ed paine has the story >> nancy pelosi, which mcconnell, and john boe hner have four days to reach agreement or spending cuts would take effect. >> both sides are involved in a high-stakes political blame game. >> we are here in washington working. the members of house of represented or out watching movies, and watching the kids play soccer, basketball, and...
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Dec 27, 2012
12/12
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KOFY
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to deal with the tax increases and spending cuts that are due to take effect next week. no official fiscal cliff negotiations between republicans and democrats have been scheduled. not a great deal of progress. >>> with the government right on the edge now of that fiscal cliff, taxpayers are facing a lot of uncertainty as we head into the new year and for many of us the usual year-end financial strategies simply may not apply this year. 7 on your side's michael finney sorts out some of the confusion. >> reporter: when it comes to year end finances the old rules may not add up this year. >> it is difficult to do any type of tax planning and advising because nobody really knows exactly what is going to happen. >> much of the uncertainty centers around whether the united states is about to fall off that a fiscal cliff. if that happens, that would mean the end of the temporary payroll tax cuts. even if that doesn't happen, most believe taxes will go up next year. >> one of the things that is being floated right now is people are advising people to get out of dividend paying
to deal with the tax increases and spending cuts that are due to take effect next week. no official fiscal cliff negotiations between republicans and democrats have been scheduled. not a great deal of progress. >>> with the government right on the edge now of that fiscal cliff, taxpayers are facing a lot of uncertainty as we head into the new year and for many of us the usual year-end financial strategies simply may not apply this year. 7 on your side's michael finney sorts out some of...
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Dec 28, 2012
12/12
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KGO
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spending cuts and tax hikes will go into effect unless lawmakers can broker a deal. >> reporter:cx$z president obama will4zkn:eÑ with congressional leaders later today at the white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. >> i have to be honest mr. president, i don't know timewise how it can happen now.((?u >> reporter: harry reid lashed out at house speaker bane area out at house speaker bane area caution him ofrm" dictatorship. >> boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> reporter: republicans blame democrats. >> republicans aren't about to write a blank cheque or anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: president obama flew home early from his speaker boehner call the house back into town for an unusual sunday session. members of congress understand the 11th hour actions may not be enough to appease the public. >> the american people have a
spending cuts and tax hikes will go into effect unless lawmakers can broker a deal. >> reporter:cx$z president obama will4zkn:eÑ with congressional leaders later today at the white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. >> i have to be honest mr. president, i don't know timewise how it can happen now.((?u >> reporter: harry reid lashed out at house speaker bane area out at house speaker bane area caution him...
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Dec 30, 2012
12/12
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KBCW
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spending. >> we can't ford a politically self-inflict wound to the economy. if they don't pan out, he is ready to plomyself -- propose his own tax bill. patience is wearing thin. >> for those of us investing in the stock market, it's disgusting to watch them jockey around with our money. >> reporter: missing in all the last-minute northbounds is talks about the $1.2 trillion mandatory spending cuts scheduled to go into affect tuesday. tara mergener for cbs news, washington. >>> three people are dead after a late-night apartment fire in san jose. the fire began after 11 last night on bridgeport court on the city's west side. the san jose fire department put out the blaze and then discovered the bodies of a man, woman, and child. >> they will upgrade the alarm and to have some personnel in place. we had multiple rescues in the middle of the night, no people are sleeping and we need to get our resources. >> three others, including the officer injured were hospitalized and the fire displaced 56 people from the building. investigators are still looking into the ca
spending. >> we can't ford a politically self-inflict wound to the economy. if they don't pan out, he is ready to plomyself -- propose his own tax bill. patience is wearing thin. >> for those of us investing in the stock market, it's disgusting to watch them jockey around with our money. >> reporter: missing in all the last-minute northbounds is talks about the $1.2 trillion mandatory spending cuts scheduled to go into affect tuesday. tara mergener for cbs news, washington....
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Dec 28, 2012
12/12
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KRON
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president obama and top congressional leaders are looking for common ground to keep automatic spending cuts and tax increases from kicking them. hidden payne has the story. >> reaching a bill will not be easy because both sides are in a blaming game carry it >>. >> i told the president that we will look at whatever he proposes but the truth is is that we're coming up against a hard deadline. as i stated before this is a conversation that we should have had a month ago. >> democrats want to extend the bush era tax cuts. many republicans are against any tax increases. most americans just want something to be done. >> if people are just tired of partisanship. we just want everyone to come together. >> if lawmakers do not come together then this may lead to recession. i am and \ / \ \ / ed payne reporting. >> we will be right back. [ male announcer ] if you're ready to get more from your tv service, now's a great time to get at&t u-verse tv. make the switch. [ female announcer ] call now to get at&t u-verse tv for only $29 a month for 6 months, with a total home dvr included free for life.
president obama and top congressional leaders are looking for common ground to keep automatic spending cuts and tax increases from kicking them. hidden payne has the story. >> reaching a bill will not be easy because both sides are in a blaming game carry it >>. >> i told the president that we will look at whatever he proposes but the truth is is that we're coming up against a hard deadline. as i stated before this is a conversation that we should have had a month ago....
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Dec 28, 2012
12/12
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KGO
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. >> j president obama will meet with leaders from capitol hill today, hoping to avoid the fiscal cliff, combination of spending cuts and tax hikes with will go into effect unless lawmakers can broker a deal before the end of the year. will meet with congressional white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. jive to be very honest mr. president, -- >> i have to be very honest mr. president, i don't know time-wise how it can happen now. >> reporter: senate majority leader harry reid]vtkÑ lashed ot at speaker boehner accusing him of running a tar forship. >> john boehner seems to -- >> reporter: republican leaders blame democrats for the standoff and say there are limits to a compromise. >> republicans aren't about to write a blank cheque or anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: president obama flew home early from his hawaii vacation yesterday. speaker boehner call the house back into town for an unusual sunday
. >> j president obama will meet with leaders from capitol hill today, hoping to avoid the fiscal cliff, combination of spending cuts and tax hikes with will go into effect unless lawmakers can broker a deal before the end of the year. will meet with congressional white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. jive to be very honest mr. president, -- >> i have to be very honest mr. president, i don't know time-wise how it...
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Dec 28, 2012
12/12
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WJZ
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in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday. it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican mi
in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday....
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Jan 1, 2013
01/13
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KPIX
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it's just disgusting. >> reporter: president obama wanted to dole with taxes and spending cuts at the same time. >> but with this congress, that was obviously a little too much to hope for at this time. >> reporter: house speaker john boehner has not yet publicly endorsed the deal. now, the house reconvenes at midday but lawmakers say, frank, they plan to study this bill hard before they take a vote. they say the senate has had months to get a bill passed and they are not going to rush to get anything done. >> there is word, tara, that some republican lawmakers are upset about something the president said. could that effect support of the bill? >> reporter: it might. president obama chastised in his speech congress for taking too long to get the deal done. but he also threw something out at republicans saying if they think that spending cuts is the only thing that's going to reduce the deficit, they have another thing coming and that basically references the $16.5 trillion in debt which is the next issue on the table. a lot of republicans were offended and it could antagonize enough o
it's just disgusting. >> reporter: president obama wanted to dole with taxes and spending cuts at the same time. >> but with this congress, that was obviously a little too much to hope for at this time. >> reporter: house speaker john boehner has not yet publicly endorsed the deal. now, the house reconvenes at midday but lawmakers say, frank, they plan to study this bill hard before they take a vote. they say the senate has had months to get a bill passed and they are not...
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Jan 1, 2013
01/13
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KPIX
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that we're not where we need to be on revenue is disgusting. >> reporter: president obama wanted a bargain that dealt with taxes and spending cuts at the same time. >> but with this congress, that was obviously a little too much to hope for at this time. >> reporter: house speaker john boehner has not yet publicly endorsed the deal. and the house reconvenes by midday today. a vote could also come today. >> tara, a lot of republicans weren't happy with the president's speech yesterday. is there any indication that that could affect the vote in the house? >> well, president obama during that speech criticized congress for taking too long to come up with this deal. he also laid the groundwork for another problem that's coming and that's basically burrough -- upping the country's burrough limit. republicans will no doubt try to use upping that in ex-kang for spending cuts. and to which the president said, they have another thing coming if they think that's going to be the case. spending cuts alone are not going to be able to reduce the country's deficit. so we have that coming. senator john mc
that we're not where we need to be on revenue is disgusting. >> reporter: president obama wanted a bargain that dealt with taxes and spending cuts at the same time. >> but with this congress, that was obviously a little too much to hope for at this time. >> reporter: house speaker john boehner has not yet publicly endorsed the deal. and the house reconvenes by midday today. a vote could also come today. >> tara, a lot of republicans weren't happy with the president's...
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Jan 1, 2013
01/13
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CSPAN
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although the deadline has passed, congress can still deal with the impact of spending cuts and tax increases that were set to go into effect on january 1. congressional leaders say they want to send legislation to president obama within a day or two, so consumers should not notice any impact. again, that from the associated press. and now, we talk to a reporter on capitol hill about the actions so far by senate democrats in reaching an agreement. todd is from the takeaway. hours before the deadline, democrats announced a scaled- down version to avoid the so- called fiscal cliff. what are some of the key items in the deal? >> the most important items people will be paying attention to are the income tax rates. you are looking at a tax increase on individuals making more than $400,000 and individuals and families making more than $450,000. president obama campaigned on 250 thousand dollars, and they are redefining what is middle class. now, someone who makes $300,000, that person is middle class, too, but that is fiscal cliff politics. you have the marginal rates. there are going to be some ch
although the deadline has passed, congress can still deal with the impact of spending cuts and tax increases that were set to go into effect on january 1. congressional leaders say they want to send legislation to president obama within a day or two, so consumers should not notice any impact. again, that from the associated press. and now, we talk to a reporter on capitol hill about the actions so far by senate democrats in reaching an agreement. todd is from the takeaway. hours before the...
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Jan 1, 2013
01/13
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president obama said he would have preferred a grand bargain that solved all of washington's revenue and spending problems. >> with this congress, that was obviously a little too much to hope for at this time. [ laughter ] >> it may be we can do it in stages. >> reporter: negotiations have been going on all day. lawmakers and aides moving back and forth between meeting rooms here on capitol hill on what is normally a quiet new year's eve. the major sticking upon the now is spending. the president suggested lawmakers make action on deficit reduction in the next few months and that more tax revenue could be involved in those discussions. but republicans are furious at that possibility. >> i'm willing to support revenues to deal with this problem. the overall problem. but what i will not grow to is using revenues to replace spending reductions. >> reporter: even if the senate approves the deal by midnight the house still has to pass the measure before the president can sign it into law. the house left earlier this evening, but it doesn't matter in terms of the "fiscal cliff" agreement b
president obama said he would have preferred a grand bargain that solved all of washington's revenue and spending problems. >> with this congress, that was obviously a little too much to hope for at this time. [ laughter ] >> it may be we can do it in stages. >> reporter: negotiations have been going on all day. lawmakers and aides moving back and forth between meeting rooms here on capitol hill on what is normally a quiet new year's eve. the major sticking upon the now is...
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Dec 31, 2012
12/12
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KPIX
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he's the "spender-in-chief." >> reporter: president obama says he is willing to do that. >> i offered over a trillion dollars in additional spending cuts so that we would have $2 of spending cuts for every $1 of increased revenue. >> the senate is in recess. >> reporter: the senate reconvenes this morning so as americans celebrate the beginning of 2013, they may wake up wishing it were 2012 when they had more money in their pockets. i'm andrew spencer reporting. >>> and just to clarify, that midnight deadline is 9 p.m. pacific time. you can keep track of the fiscal talks anytime all day long by logging on to our website, cbssf.com. >>> it's 6:35 right now. why don't we get a look at weather with meteorologist lawrence karnow. >> we have to get him out of his chair. he is sitting over there, you know, relaxing with his slippers on. get to work! >> i was watching all the fireworks in sydney. i was having a great time. happy new year! >> happy new year. >> can't believe it's that i am too of year again. here we go. a cold start to the day though if you are headed out the door. we have so
he's the "spender-in-chief." >> reporter: president obama says he is willing to do that. >> i offered over a trillion dollars in additional spending cuts so that we would have $2 of spending cuts for every $1 of increased revenue. >> the senate is in recess. >> reporter: the senate reconvenes this morning so as americans celebrate the beginning of 2013, they may wake up wishing it were 2012 when they had more money in their pockets. i'm andrew spencer...
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Dec 27, 2012
12/12
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first lady michelle obama and their daughters will remain in hawaii. house and senate members are expected to reconvene thursday. without a budget agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. the main dispute continues to be over taxes. >> vicki: starbucks will publicly take a stand on the looming fiscal cliff. c-e-o howard schultz is asking workers at its 120 d-c-area stores to write "come together" on the coffee cups they serve on thursday and friday. he says it's a way to quote: "send our elected officials a respectful but potent message, urging them to come together to find common ground." both sides are due back by thursday and have vowed to make a final attempt. starbucks notes workers are not required to write the message on cups. >> 49ers sunday at candlestick with a chance to clinch the division title kron four's jason appelbaum joins me now with more. .jason the team's a little banged up right? >> manning's am >> vernon davis, manning >> . >> and justin smith at this kind of the big
first lady michelle obama and their daughters will remain in hawaii. house and senate members are expected to reconvene thursday. without a budget agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. the main dispute continues to be over taxes. >> vicki: starbucks will publicly take a stand on the looming fiscal cliff. c-e-o howard schultz is asking workers at its 120 d-c-area stores to write "come together" on the coffee cups...
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Dec 31, 2012
12/12
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addiction of his administration he has to spending. he is the "spender-in-chief." >> reporter: president obama says he is willing to do that. >> i offered over a trillion dollars in additional spending cuts so that we would have $2 of spending cuts for every $1 of increased revenue. >> the senate stands in recess. >> reporter: the senate reconvenes at 11 a.m. so as americans celebrate the beginning of 2013, they may wake up wishing it were 2012 when they had more money in their pockets. i'm andrew spencer reporting. >>> just to clarify, the mid into the deadline is 9:00 our time. if the deadline comes and goes, there could still be some wiggle room if the president and lawmakers appear to be working toward an agreement. the tax hikes and spending cuts could be held at bay for a few weeks, then could be repealed retroactively once the deal is reached. you can keep tabs on the fiscal talks anytime by logging on to our website, cbssf.com. >>> congressional leaders did show yesterday they are able to compromise. top republicans and democra
addiction of his administration he has to spending. he is the "spender-in-chief." >> reporter: president obama says he is willing to do that. >> i offered over a trillion dollars in additional spending cuts so that we would have $2 of spending cuts for every $1 of increased revenue. >> the senate stands in recess. >> reporter: the senate reconvenes at 11 a.m. so as americans celebrate the beginning of 2013, they may wake up wishing it were 2012 when they had...
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Dec 28, 2012
12/12
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that's when automatic tax hikes and spending cuts go into effect. senate majority leader harry reid says even if something gets done now there may not be enough time to get it through congress. we'll just wait to see what happens. >> we have been waiting a long time. >> i know. >> hopefully the deadline will help. >>> we have a big holiday weekend and a wee bit of rain. >> that's this afternoon the right now it's cold. that's what we'll focus on in the meantime. cold temperatures are dipping below freezing now. look at fairfield, that's just dropped to 31 degrees. some people scraping some frost off their windshields this morning. 39 in vallejo. 35 santa rosa. so all that blue tells us it's chilly. and unfortunately by this afternoon, well, i guess it's fortunately if you like the cold weather, but it is going to be slightly cooler today than yesterday. a lot of low 50s. 52 santa rosa. only 50 in fairfield. a little more mild around the bay, 54 in oakland and fremont. as frank just mentioned, the rain, light rain set to hit the bay area friday after
that's when automatic tax hikes and spending cuts go into effect. senate majority leader harry reid says even if something gets done now there may not be enough time to get it through congress. we'll just wait to see what happens. >> we have been waiting a long time. >> i know. >> hopefully the deadline will help. >>> we have a big holiday weekend and a wee bit of rain. >> that's this afternoon the right now it's cold. that's what we'll focus on in the meantime....
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Dec 27, 2012
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a series of tax hikes and spending cuts that to make affected in five days. >> there still seems to be no signs of compromise between congress and president obama. >> president obama returns to washington today after cutting his holiday vacation short. >> this is video of the president leading from his vacation. >> house and senate members are expected to reconvene today as well. >> without a budget agreement, automatic tax increases for everyone in the spending cuts will be triggered in the new year. >> the main dispute continues to be over taxes. >> there was a big drop in wall street because of the fiscal cliff. the dow off 25 points yesterday as investors are increasingly skeptical that lawmakers will make a deal on the fiscal cliff the flat this morning. in the opening bell. a letter from the treasury secretary air to congress sent after the bill yesterday may also weigh on the market. >> government reports on the labour and housing markets, a consumer confidence and manufacture more do throughout the day. >> in bay area headlines the woman accused of killing a grandmother in a dr
a series of tax hikes and spending cuts that to make affected in five days. >> there still seems to be no signs of compromise between congress and president obama. >> president obama returns to washington today after cutting his holiday vacation short. >> this is video of the president leading from his vacation. >> house and senate members are expected to reconvene today as well. >> without a budget agreement, automatic tax increases for everyone in the spending...
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Dec 24, 2012
12/12
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president obama and congress are on christmas vacation. it will be thursday before talks resume to try and prevent automatic tax hikes and spending cuts from taking effect january first. andrew spencer has the latest. analysts say many shoppers haven't been in the holiday spirit when it comes to spending money. the four-day black friday weekend that started on thanksgiving was strong. sales rose 2-point-7 percent. but analysts says sales fell 4-point-3 percent for the week ending december 15th. and last week they forecasted holiday spending to decrease another 2-point- 5 percent. previous expectations were for a 3-point-3 percent increase in spending. the saint anthony foundation needs help to reach its goal of collecting 5-hundred hams during the 25th annual curbside donation drive. according to the foundation, they collected a hundred hams. that's just 20-percent of their goal. the foundation hoped to get another 400 hams sunday and today. if you would like to donate a ham you can do so at the drive. located in front of saint anthony's i
president obama and congress are on christmas vacation. it will be thursday before talks resume to try and prevent automatic tax hikes and spending cuts from taking effect january first. andrew spencer has the latest. analysts say many shoppers haven't been in the holiday spirit when it comes to spending money. the four-day black friday weekend that started on thanksgiving was strong. sales rose 2-point-7 percent. but analysts says sales fell 4-point-3 percent for the week ending december 15th....
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Dec 31, 2012
12/12
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he is the center in chief. >> president obama says i offered over a trillion dollars and additional spending cuts. so we would have to dollars of spending cuts for every $1 of increased revenue. >> the senate reconvenes at 11:00 a.m.. as americans celebrate the beginning of 2013 they may wake up wishing it were 2012 when they had more money in their pockets. >> secretary of state hillary clinton is in the hospital with a blood clot. doctors say this is a medical problem related to a concussion suffered. the blood clot was found yesterday during a follow-up visit for her concussion. at this is video of new york presbyterian hospital where she is staying right now. 65 you're a clinton severed a concussion several weeks ago after fainting while recovering from a stomach virus. she was supposed to return to work this week. rain in the new year around the world already we showed you new zealand and sydney australia. here is at the be right now from beijing china, it just turned midnight there. they are ringing in the new year halfway around the world. we will continue bringing the year's celebrat
he is the center in chief. >> president obama says i offered over a trillion dollars and additional spending cuts. so we would have to dollars of spending cuts for every $1 of increased revenue. >> the senate reconvenes at 11:00 a.m.. as americans celebrate the beginning of 2013 they may wake up wishing it were 2012 when they had more money in their pockets. >> secretary of state hillary clinton is in the hospital with a blood clot. doctors say this is a medical problem...
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Dec 28, 2012
12/12
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economists hope they'll come up with a plan to avoid automatic tax increases and government spending cuts. some fear the meet as good just for show, however a big development with the senate minority leader. he spoke directly with the president for the first time in negotiations. >> i told the president we would be happy to look at whatever he proposes but the truth is we're coming up against a hard dead line here and as i said, this is a conversation we should have had months ago. >> the main sticking point is who should pay more in taxes. democrats want a hike on households making more than $400,000 a year and republican aids say their leaders might get on board with that offer. >>> meanwhile if they aren't able to avoid the fiscal cliff people here in alabama will be especially hard hit. that's because prop 30 will soon mean higher sales taxes and higher income taxes on the state's top earners, the fiscal cliff would add to that hitting all american with higher taxes. >> i don't know if there's a word to describe how upset the public is going to be. nobody's going to be happy to s
economists hope they'll come up with a plan to avoid automatic tax increases and government spending cuts. some fear the meet as good just for show, however a big development with the senate minority leader. he spoke directly with the president for the first time in negotiations. >> i told the president we would be happy to look at whatever he proposes but the truth is we're coming up against a hard dead line here and as i said, this is a conversation we should have had months ago....
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Dec 29, 2012
12/12
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president obama stated the obvious earlier today. saying the hour for immediate action is here" to avoid the fiscal cliff. if there's no deal by midnight december 31st. there will be automatic tax increases and spending cuts. we'll have more from our political analyst in a minute - but first. kron 4's justine waldman is back with more on our developing story. >> reporter: after meeting with bi-partisan leaders friday, the president said no one will get 100-percent of what they want. he said if congress can't reach a deal. congress should allow a vote on a basic package that would preserve tax cuts for middle-class americans, >> i am optimistic that we can still pass a deal in both houses in time, mitch mcconnell, and harry reid are working on an agreement as we speak >> i have my confidence destroyed on other occasions and so i hope it is not on this occasion the timing, we have to do it now that is what the next 24 hours will be very important. >> we had a good meeting in the white house we are engaged in discussions with the majori
president obama stated the obvious earlier today. saying the hour for immediate action is here" to avoid the fiscal cliff. if there's no deal by midnight december 31st. there will be automatic tax increases and spending cuts. we'll have more from our political analyst in a minute - but first. kron 4's justine waldman is back with more on our developing story. >> reporter: after meeting with bi-partisan leaders friday, the president said no one will get 100-percent of what they want....
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Dec 26, 2012
12/12
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cuts known as the fiscal cliff. >> president obama spent christmas day visiting with troops in hawaii. >> while back in washington uncertainty about the looming fiscal cliff continues. there has been to communication between republicans and democrats about how to avoid going over the cliff. before the christmas break, speaker john boehner was unable to get enough support from respects to pass his plan and help said it was up to the white house and the senate to avert the cliff. so now harry reid is believed to be crafting a plan of his own. it's expected to extend bush-era tax cuts. it would also include short-term spending cuts instead of the massive cuts that would occur if there is no deal. it would also patch up the alternative minimum tax that will hit even more middle class families and schedule a drop off for doctors. >> if republicans do give in and support the deal being put together by harry reid that deal is expected to be far less favorable than the potential deal they had been working on with president obama. >> republican strategist, frank luntz has been talking with vot
cuts known as the fiscal cliff. >> president obama spent christmas day visiting with troops in hawaii. >> while back in washington uncertainty about the looming fiscal cliff continues. there has been to communication between republicans and democrats about how to avoid going over the cliff. before the christmas break, speaker john boehner was unable to get enough support from respects to pass his plan and help said it was up to the white house and the senate to avert the cliff. so...
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Jan 1, 2013
01/13
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president obama asking the house to pass it without delay. nancy cordes is on capitol hill this morning. good morning to you. >> reporter: good morning, terrell. technically we did go over the fiscal cliff at midnight this morning, but that is likely to be temporary if the house votes in favor of that bill later today. the senate as you mentioned, voted overwhelmingly around 2:00 in the morning by a vote of 89-8, almost all democrats and republicans voting yes on a deal that would make permanent the bush era tax cuts for people earning up to $400,000 a year and couples earning up to $450,000 a year. this was a deal that was worked out by vice president biden and senate leaders. the house speaker hasn't said that the house will definitely vote in favor of it today, but democrats at least are saying they expect almost all of their members to vote yes. terrell. >> nancy cordes on capitol hill. thank you so much. >>> secretary of state hillary clinton spent new year's eve in the hospital being treated for a blood clot in her skull. margaret brenn
president obama asking the house to pass it without delay. nancy cordes is on capitol hill this morning. good morning to you. >> reporter: good morning, terrell. technically we did go over the fiscal cliff at midnight this morning, but that is likely to be temporary if the house votes in favor of that bill later today. the senate as you mentioned, voted overwhelmingly around 2:00 in the morning by a vote of 89-8, almost all democrats and republicans voting yes on a deal that would make...
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Dec 25, 2012
12/12
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taxation and also we have to have cuts in spending. we have to do the cuts in spending over time because you do not want to endanger a very fragile economy. to respond directly to your question, why do i think the electorate looking at the present obama and cutting the debt in half, i think the answer is we went through a very difficult economic recession. some spending was in order. 50% of the debt or more in terms of spending on wars, prescription drug benefits and things not properly funded, and when you ask the american people about those things, they still blame president bush ii for the economic recession and for the debt more so than president obama. host: as far as the fiscal cliff, who will most likely make the next news story? guest: i think it has to be president obama. i think john boehner went through a devastating experience this last week when he called for a vote and did not have a vote. his troops abandoned him. it has been ongoing for a while, his relationship with some of these freshman. he is having a difficult time
taxation and also we have to have cuts in spending. we have to do the cuts in spending over time because you do not want to endanger a very fragile economy. to respond directly to your question, why do i think the electorate looking at the present obama and cutting the debt in half, i think the answer is we went through a very difficult economic recession. some spending was in order. 50% of the debt or more in terms of spending on wars, prescription drug benefits and things not properly funded,...
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. >>> president obama says the agreement reached by the senate is the, quote, right thing to do for our country and is encouraging the house to pass it without delay. >>> secretary of state hillary clinton is spending this new year's day in a new york hospital where she is being treated for a blood clot near her brain. doctors are using blood thinners to try to break up the clot which was found more than two weeks after clinton fainted and suffered a concussion. while the clot could have been serious, even fatal, doctors say she's expected to make a full recovery. >>> in california, a big new year's eve fireworks show in sacramento was called off at the last minute because of a deadly shooting. two people were killed and three others injured in a gunfight outside a restaurant and police decided to call off the nearby celebration that was expected to draw 40,000 people. >>> but here in new york city, the big apple, things were peaceful as more than a million people packed times square for the biggest new year's eve celebration of all. with party hats, 2013 glasses and a blizzard of confe
. >>> president obama says the agreement reached by the senate is the, quote, right thing to do for our country and is encouraging the house to pass it without delay. >>> secretary of state hillary clinton is spending this new year's day in a new york hospital where she is being treated for a blood clot near her brain. doctors are using blood thinners to try to break up the clot which was found more than two weeks after clinton fainted and suffered a concussion. while the clot...
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Dec 24, 2012
12/12
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talks to try to prevent automatic tax hikes and spending cuts won't resume until thursday. andrew spencer has the very latest. >> reporter: some republican lawmakers says president obama wants the country to fall off the fiscal cliff. >> we were gonna go over the cliff before. we are gonna now because that's what the president wants. >> reporter: house speaker john boehner failed to get enough vote for his plan b on thursday. that would have raised taxes on people making more than a million dollars a year. on friday, they left town with no deal. >> i've asked leaders of congress to work toward a package that prevent as tax hike on middle-class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. >> raising taxes could still be red ink as far as i can see and it would hurt jobs. >> reporter: some long-time lawmakers are dismayed by the perpetual gridlock. >> i feel it's more likely we'll go over the cliff than not and if we allow that to happen, it will be the most colossal consequen
talks to try to prevent automatic tax hikes and spending cuts won't resume until thursday. andrew spencer has the very latest. >> reporter: some republican lawmakers says president obama wants the country to fall off the fiscal cliff. >> we were gonna go over the cliff before. we are gonna now because that's what the president wants. >> reporter: house speaker john boehner failed to get enough vote for his plan b on thursday. that would have raised taxes on people making more...
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Dec 29, 2012
12/12
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before taxes rise and spending cuts take effect at the end of the year. he urges "washington politics" to not get in the way of "america's progress." meanwhile, in the republican address, missouri senator roy blunt says the nation can avoid going over the fiscalbama and the democratic- controlled senate work with republicans to solve the problem. >> the senate has approved a 60-point-4 billion dollar emergency spending package for hurricane sandy recovery. the measure, which was backed by democrats, now heads to the house. meanwhile, republican leaders favor a smaller aid package to pay for immediate sandy recovery needs, saying they need more time to consider any additional aid. >> sandy battered the east coast in late october. it was the most costly natural disaster since hurricane katrina in 2005. >> a connecticut attorney is asking permission to sue the state for 100 million dollars on behalf of a student who survived the mass shooting in newtown. the attorney says the 6- year-old student, identified as "jill doe," was in her classroom at sandy hook e
before taxes rise and spending cuts take effect at the end of the year. he urges "washington politics" to not get in the way of "america's progress." meanwhile, in the republican address, missouri senator roy blunt says the nation can avoid going over the fiscalbama and the democratic- controlled senate work with republicans to solve the problem. >> the senate has approved a 60-point-4 billion dollar emergency spending package for hurricane sandy recovery. the measure,...
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Jan 1, 2013
01/13
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the senate has put off dealing with government spending cuts for another two months and they need to address the debt ceiling and long-term budget plans. >> it's the debate we'll have next and it's a debate republicans are ready for. >> reporter: and the next debate is in the house. we'll see if they pass the senate deal when they get back to work in less than two hours. live in washington, kyla campbell, ktvu channel 2 news. >>> it is 7:13. some san francisco workers can expect slightly bigger paychecks starting today. that's because the minimum wage just went up in the city. the minimum wage is now $10.5 in san francisco. the state minimum wage in california is $8 an hour. >>> 7:13. pg&e customers, you'll see changes on your bill this month. starting today, electric bills go up about 2%. but gas rates, they are going down, almost 6%. however, the smaller gas prices, they won't last long. next month, pg&e will raise gas rates about 2% to help pay for pipeline safety upgrading. now, this was mandated by sit regulators after the 2010 pipeline explosion in san bruno. >>> well, a new ca
the senate has put off dealing with government spending cuts for another two months and they need to address the debt ceiling and long-term budget plans. >> it's the debate we'll have next and it's a debate republicans are ready for. >> reporter: and the next debate is in the house. we'll see if they pass the senate deal when they get back to work in less than two hours. live in washington, kyla campbell, ktvu channel 2 news. >>> it is 7:13. some san francisco workers can...
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Dec 30, 2012
12/12
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and i think that president obama struck it perform. he hasn't offered a whole lot and not we're only talking about tax increases, no talk about what will really matter, which is getting spending under control, entitlement programs, social security and medicare. nobody is talking about that and kicked the can down the road and only talking about taxes which will do nothing to decrease the deficit. >> juliet: thank you for joining us and waking up at the bright and early hour of 6:10 a.m. >> clayton: thanks, curtis. let's check with maria molina, another snowstorm in ohio and east and some places in southern new england got up to a foot of snow. >> dave: and drivers be warned, five people hurt in new hampshire after a 20-car pileup and some airports saw slays and a plane taken off in sheing slid off the runway, and stuck in a snow bank, 6 6 on board. no one was hurt. >> juliet: for more on the conditions as mr. clayton morris said, maria molina. i was saddened not to see a white new years, pre-new years. >> we didn't see it accumulate in
and i think that president obama struck it perform. he hasn't offered a whole lot and not we're only talking about tax increases, no talk about what will really matter, which is getting spending under control, entitlement programs, social security and medicare. nobody is talking about that and kicked the can down the road and only talking about taxes which will do nothing to decrease the deficit. >> juliet: thank you for joining us and waking up at the bright and early hour of 6:10 a.m....